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Types of Economies (Free Market Economy (Private Individuals who own the…
Types of Economies
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Traditional Economy
People in traditional economy typically perform the same type of work as their parent or grandparent regardless of their potential, talent, or ability
Amazon villages, Inuit in Alaska
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Command Economy
There is no choice and no competition, therefore there aren't too man decisions. In the case that there is a decision the government will make it
There is no choice and no competition, therefore there aren't too man decisions. In the case that there is a decision the government will make it
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